Latest Updates From World Economic Forum (WEF), Davos 2018

Through the years, numerous business, government and civil society leaders have made their way to Davos to consider the major global issues of the day and to brainstorm on solutions to address these challenges.

The World Economic Forum is best known for its Annual Meeting in Davos-Klosters

Over 3,000 world leaders from business, politics, art, academia and civil society will attend the 48th World Economic Forum (WEF) Annual Meeting over the five-day event in the Swiss ski resort town of Davos. The World Economic Forum is best known for its Annual Meeting in Davos-Klosters. Through the years, numerous business, government and civil society leaders have made their way to the high Alps to consider the major global issues of the day and to brainstorm on solutions to address these challenges. The Indian presence will be the largest ever with over 130 participants. In his plenary address, PM Modi said called for countries to unite to tackle what he called the three big challenges that the world faces - "climate change, terrorism and an increased self-centredness."

Here are the latest updates from the annual WEF meeting being held in Davos:

"After years of stagnation, the US is once again experiencing strong economic growth... America is open for business and we are competitive once again," says US President Donald Trump, speaking at the closing session of World Economic Forum in Davos.

Jan 26, 2018

18:59 (IST)

"We are lifting people from dependents to independents," says US President Donald Trump.

Jan 26, 2018

18:58 (IST)

After years of stagnation, the US once again experiencing strong economic growth: US President Donald Trump in Davos

Jan 26, 2018

18:57 (IST)

No country should be held hostage to a single provider of energy, says US President Donald Trump

Jan 26, 2018

18:54 (IST)

"America first does not mean America alone... When US grows, the world grows," says US President Donald Trump, speaking at the closing session of the World Economic Forum 2018 in Davos.

Jan 26, 2018

18:49 (IST)

Will always put America first just like leaders of other nations should put their nations first, says US President Donald Trump

Jan 26, 2018

18:47 (IST)

Never been a better time to hire, build, invest, grow in US: President Donald Trump

Jan 26, 2018

18:46 (IST)

America Open For Business, Says Donald Trump

"We are competitive once again; we have just enacted the most significant tax reform," the US President said.

Jan 26, 2018

18:42 (IST)

America hopes for a future in which everyone can prosper: US President Donald Trump at World Economic Forum, Davos

Jan 26, 2018

18:39 (IST)

World Economic Forum founder and executive chairman Klaus Schwab welcomes US President Donald Trump to stage

Jan 26, 2018

18:35 (IST)

US President Donald Trump to shortly addresses closing session of World Economic Forum at Davos

Terming the government's regional air connectivity scheme UDAN a big success, SpiceJet chief Ajay Singh has said the airline has not taken the viability gap funding so far as the routes operated by it under the scheme are financially viable on their own. (Read more)

President Donald Trump will take a turn as America's salesman-in-chief Friday, urging investment from the global business elite in Davos, while also warning foreign governments that they must play fair in trade or else.

"America is open for business," the 71-year-old is expected to say in a keynote address at the close of the week-long World Economic Forum in the Swiss Alps, according to a senior administration official. (Read more)

PM Narendra Modi's stance on electric cars and climate change has given "us direction to where we should go" and what kind of technologies to introduce in India, Carlos Ghosn CEO of Renault SA said at Davos.

Jan 25, 2018

17:57 (IST)

Asked about her wishes from the budget, Shobana Kamineni, President, CII said: "Reduction in corporate taxes, more action in healthcare and anything that is job-creating is good for India."

Technology is an enabler, that's why we invested in electric vehicles; we were called stupid then, today we are called visionaries, says Anand Mahindra, speaking in a panel discussion on 'Stepping Up Climate Action' at WEF, Davos

Jan 25, 2018

16:18 (IST)

We shouldn't abandon the argument that it is an issue for countries which created the problem, you can't pass the buck: Anand Mahindra on climate change

Jan 25, 2018

16:05 (IST)

Developed countries created climate change problem but it is a global problem: Al Gore

Jan 25, 2018

16:04 (IST)

World as a whole is subsidizing taxpayers to burn coal, gas, says Al Gore, former US Vice-President

Jan 25, 2018

15:58 (IST)

Mahindra group companies will commit to science-based targets, says Mahindra Group chairman Anand Mahindra, speaking in panel discussion on 'Stepping Up Climate Action' at WEF, Davos

Jan 25, 2018

15:51 (IST)

We have to translate change that is happening into a political change, says Al Gore, former vice-president of US

According to the WEF Global Risks Report 2018, extreme weather, climate change and natural disasters are identified among the top risks facing humanity. Tune in for a panel discussion on 'Stepping Up Climate Action' at 3:30 pm.

"Pioneering initiatives like GST and demonetisation have led to increasing formalisation of the economy and financialisation of savings. These changes are forging new paradigms and I expect the government to continue to focus on steps that will augur well for the economy," top banker Chanda Kochhar said. (Read more)

ICICI Bank managing director and CEO Chanda Kochhar has said that the flow into financial savings has surged significantly since demonetisation in November 2016. (Read more)

Jan 25, 2018

12:54 (IST)

Will soon be heading to Davos, Switzerland, to tell the world how great America is and is doing. Our economy is now booming and with all I am doing, will only get better...Our country is finally WINNING again!

"Corporate tax rate has to come down sharply as we must get private investment crowding in," says Yes Bank CEO Rana Kapoor.

Jan 24, 2018

22:06 (IST)

"I am a bit of a pessimist when it comes to bitcoins," says Yes Bank CEO Rana Kapoor at Davos

Jan 24, 2018

21:57 (IST)

"Banks have to put in a business model where they can respond to requirements of MSME very quickly," State Bank of India Chairman Rajnish Kumar said about the massive 2.11 crore recaptilisation plan for public sector banks.

China has welcomed Prime Minister Narendra Modi's Davos speech against protectionism, saying the two countries can join hands in fighting such practice. Beijing also said the two countries share common interests in promoting globalisation and steering the world economy towards betterment. (Read more)

Jan 24, 2018

15:09 (IST)

The WEF IBC was the last engagement of @PMOIndia at Davos.And he aced it.Questions were by top global CEO's&his answers were substantive & also humorous.Once again he greeted most of them on a first name basis.If there was a 'charm' ranking of leaders here he would win easily

In conversation with NDTV's Prannoy Roy, former RBI governor Raghuram Rajan says the Indian economy had two big headwinds last year - demonetisation and GST.

Jan 24, 2018

11:51 (IST)

Indian IT giants TCS and Infosys have joined a global drive for tech reskilling of one million workers in the first ever such IT industry initiative.

The initiative, whose founding partners also include Accenture, CA Technologies, Cisco, Cognizant, Hewlett Packard Enterprise (HPE), Pegasystems, PwC, Salesforce and SAP, aims to bring competitive training content together on one platform to serve the greater good. The initiative will be targeting 1 million people for training and resource opportunities on the World Economic Forum SkillSET portal by January 2021. (Read more)

"He was giving the perspective of India, does not need to be seen in context of any other country. That's why I think his speech was way above any other speech I have heard in Davos," NITI Aayog CEO Amitabh Kant said about PM Narendra Modi's speech.

Jan 23, 2018

21:32 (IST)

"We are in an economic sweet spot at the moment, there is growth at many corners, but risk would be complacency But we have to fix the roof when the sun is shining," Christine Lagarde said.

Jan 23, 2018

21:29 (IST)

"Continue the reforms that have been taken," Christine Lagarde on recommendations for Indian Economy.

India is poised to become a $5 trillion dollar economy by 2025, Prime Minister Narendra Modi said today as he addressed world leaders and global CEOs at the opening session of the World Economic Forum in the snowed-in Swiss mountain resort of Davos, inviting investors to "Come to India." (Read more)

Jan 23, 2018

19:39 (IST)

India ranks above China, US when it comes to exerting positive influence in international affairs, the World Economic Forum said.

Andhra Pradesh Chief Minister N Chandrababu Naidu said it's a historical day for India over Prime Minister Narendra Modi's speech at the World Economic Forum. "PM gave a very good message to global community especially on geopolitics, terrorism and environmental issues," Mr Naidu said.

Jan 23, 2018

16:54 (IST)

"I invite you: if you want wellness with wealth, come to India; If you want wholeness with health, come to India; if you want peace with prosperity, come to India. You will always be welcome in India," said PM Modi, summing up his keynote address at the plenary session of the WEF.

Jan 23, 2018

16:50 (IST)

"Predictable, transparent and progressive India will continue to be the good news in an uncertain world... India will always be a unifying and harmonising force," said PM Modi.

GST has been implemented, technology being used to increase transparency: PM Modi

Jan 23, 2018

16:41 (IST)

"Our path to progress is: reform, perform and transform. This is why investing in India, travelling to India, manufacturing in India has become much easier than before. We have pledged to end License Raj, we are removing red tape and laying out the red carpet... New doors to FDI are being opened...," PM Modi said, in a keynote speech at the plenary session of the WEF.

Jan 23, 2018

16:40 (IST)

"Progress is only real when it helps all and everyone joins us in the journey," said PM Modi.

Jan 23, 2018

16:34 (IST)

In 2014, India's voters, for the first time, gave a complete majority to one party, he said. "And we always strived for 'Sabka Saath, Sabka Vikas'. And this forms the bedrock of all policies of my government, be it opening bank accounts for all Indians to ensure financial inclusion, or digital inclusion, or gender justice," the prime minister added.

Jan 23, 2018

16:31 (IST)

"Mahatma Gandhi had said: 'I don't want the walls and windows of my world be closed from all sides. I want the air of the world to come in freely but it shouldn't uproot my home.' Today India follows this same philosophy," said PM Modi. "We Indians understand the value of diversity... We understand the importance of freedom and democracy," he added.

Father of the nation Mahatma Gandhi always endorsed utilisation based on need, and opposed greed: PM Modi

Jan 23, 2018

16:14 (IST)

"There are differences even within families but when there are challenges, we must come together to face them...Friends, the challenges that I am alluding to are many and widespread... But given the time limit, I'll mention three of the biggest ones," said PM Modi.

Jan 23, 2018

16:13 (IST)

"We have to overcome divides and distances for a bright future. In India, we have always believed in unifying people, not dividing them. Indian philosophers have said for thousands of years that the world is one family. We are tied together as one family, a shared thread binds us. This philosophy is relevant to tackle the divides and distances of our times," said PM Modi in a keynote speech at the plenary session of the WEF.

Jan 23, 2018

16:10 (IST)

"There are fast moving economic and political changes in the world," said PM Modi. He was delivering a keynote speech at the plenary session of the World Economic Forum in Davos. Here are some of the key things he said:

- Two decades later, the world and society are complex networks

- Even at that time Davos was ahead of its times as it is today

- The subject of Davos meet this time is creating a shared future in a fractured world

- There are fast moving economic and political changes in the world

- Peace, stability, security face new and serious challenges

- A technology-driven world has affected all aspects of our society

- Social media is a big example of how technology is being used to join, bend and break our world

-There is a race after data because it is said one who controls data will dominate the world

- On one hand science, technology and economic progress can lead human progress

- But on the other it can cause painful wounds

- Many changes are creating walls that are making the path to peace a difficult one

- In this environment, there are many important questions that demand an answer from the future of humanity

Jan 23, 2018

16:05 (IST)

"In 1997, euro wasn't in circulation, Brexit hadn't happened, world hadn't heard of Bin Laden or Harry Potter... It was a time when chess players weren't at risk of losing to computers, Google wasn't there... If you searched for Amazon, you would find information on jungles and rivers," said PM Modi, delivering a keynote speech at the plenary session of the World Economic Forum in Davos.

Jan 23, 2018

16:04 (IST)

Today, 21 years later, looking at technology and digital age, the 1997 subject of a networked society seems very far away, says PM Modi in Davos

Jan 23, 2018

16:04 (IST)

In 1997, India's GDP was little over $400 billion, now it has increased over six times: PM Modi

Jan 23, 2018

16:03 (IST)

Last time an Indian PM came to Davos was in 1997 when HD Deve Gowda came here, says PM Modi

Jan 23, 2018

16:02 (IST)

"I am delighted to be Davos for the 40th meeting of the WEF," says PM Narendra Modi

While India has done spectacularly well in ease of doing business rankings, global CEOs told PM Narendra Modi that he should not be satisfied: SpiceJet CEO Ajay Singh

Jan 23, 2018

13:41 (IST)

There is a huge appetite for continuous surge in foreign investments in India with no comparable opportunity available worldwide, Union minister Piyush Goyal said today at Davos, even as he saw India's role at international platforms growing into a leader being looked into for solving problems of a 'fractured world'.

India has emerged as the fifth most attractive market for investments and optimism over global economic growth is at a record level, a survey of CEOs by global consultancy PwC has found. "The US remains the top spot for global investment, while India moves into the top 5," PwC's 21st CEO Survey said.

There is surprising faith and optimism among chief executives in the economic and business environment worldwide, at least over the next 12 months, it noted. (Read more)

Jan 23, 2018

11:03 (IST)

Hon. PM will be addressing the @wef in Davos today.He is the first Indian PM in last 20 years to address @wef.The world has witnessed the giant strides India has made in economic reforms and transformative governance.We have much to be proud of. #IndiaMeansBusinesspic.twitter.com/PHOoBrr2se

Speaking on the sidelines of World Economic Forum meet in Davos, Andhra Pradesh chief minister N Chandrababu Naidu said: "I am very confident this time. This is India's Davos. Around 10-15 years ago, very few people used to come. Year by year, there is a lot of presence. There is a lot of visibility now from India."

"India (81st) is the laggard of this group. Formal Education (67th) and Lifelong Learning (37th) are keeping pace -- and thus the pool of Global Knowledge Skills (63rd) is solid compared with other emerging markets," said WEF's report on global index of talent competitiveness. (Read more)

Jan 22, 2018

21:34 (IST)

India Ranks 81st On Global Talent Competitiveness Index

While Switzerland continues to top the list released every year, India has improved its position from 92nd last year. (Read more)

India is projected to grow at 7.4 per cent in 2018 as against China's 6.8 per cent, the IMF said on Monday, making it the fastest growing country among emerging economies following last year's slowdown due to demonetisation and the implementation of the GST.

In its latest World Economic Outlook (WEO) update released on Monday in Davos, Switzerland on the sidelines of the World Economic Forum, the International Monetary Fund has projected a 7.8 per cent growth rate for India in 2019. (Read more)

Jan 22, 2018

20:16 (IST)

1.4 Million Jobs Vulnerable To Disruption In US, Says WEF Report

Based on an analysis of nearly 1,000 job types across the US economy, the report said that many jobs could be vulnerable to technology by 2026. (Read more)

Jan 22, 2018

19:20 (IST)

Here Are Five Things That You Must Know About WEF

Among the 2,500 delegates and 70 world leaders, Indian Prime Minister Narendra Modi will be the first of the week's keynote speakers on Tuesday. (Read more)

Jan 22, 2018

19:45 (IST)

The Annual Meeting 2018 theme is "Creating a Shared Future in a Fractured World". What are the economic, political, technological, or social "fractures" that are keeping you up at night? https://t.co/rgwqQ0sHI6#sharedfutures#wef18

For First Time In WEF's History, All Top Davos Men Are WomenThere's a union boss, a nuclear physicist, two company heads, a financial organization leader, an economist and the prime minister of Norway. (Read more)

India needs to understand the subtle difference between sales and marketing, and present the India story accordingly while positioning itself in the role of a statesman, says banker Uday Kotak. (Read more)

India Ranks Much Below China, Pakistan On WEF's Inclusive Development IndexNorway remains the world's most inclusive advanced economy, while Lithuania again tops the list of emerging economies, the World Economic Forum said. (Read more)

Jan 22, 2018

13:35 (IST)

The Indian economy is seeing broad-based improvement across all sectors and should clock 7 per cent growth in the second half of the current fiscal year, ICICI Bank managing director and CEO Chanda Kochhar said. (Read full story)

According to ICICI Bank managing director and CEO Chanda Kochhar, things are turning around very clearly and there are broad improvements across several sectors. The ICICI Bank chief has also said the full fiscal GDP growth for 2017-18 should also be in excess of 6.5 per cent. (Read more)

The Coca-Cola CEO is on his way to this week's World Economic Forum in Davos, Switzerland -- where President Donald Trump, a critic of Nafta (North American Free Trade Agreement), is expected to be in attendance. (Read more)

The annual survey by Oxfam is keenly watched and is discussed in detail at the World Economic Forum Annual Meeting where rising income and gender inequality is among the key talking points for the world leaders. (Read more)

Jan 22, 2018

09:57 (IST)

Transport, Energy Solutions High On Piyush Goyal's Agenda In Davos

Piyush Goyal will also discuss issues relating to transport and how a city space can be developed so that all modes of transport are interconnected seamlessly. (Read more)

Jan 22, 2018

09:53 (IST)

PM Modi sought "serious attention" of world leaders on existing and emerging challenges to the contemporary global systems. (Read more)

Jan 22, 2018

09:49 (IST)

The five-day meeting in Davos -- a mountain resort in Graubnden, in eastern Alps -- which begins on January 22, will be attended by nearly 3,000 world leaders from business, politics, art, academia and civil society. (Read more)

With Prime Minister Narendra Modi's pitch for India as a growth engine for global economy and a display of soft power - through yoga, cuisine and film personalities - the country is expected to be a formidable presence at the 48th World Economic Forum in Davos. (Read more)

I look forward to my first visit to the World Economic Forum at Davos, at the invitation of India's good friend and Founder of the WEF, Prof Klaus Schwab. The theme of the Forum, "Creating a Shared Future in a Fractured World" is both thoughtful and apt. @wef#IndiaMeansBusiness

Apart from the events for the @wef, I look forward to my separate bilateral meetings with the President of the Swiss Confederation H. E. Mr. @alain_berset and Prime Minister of Sweden H. E. Mr. Stefan Lofven. @SwedishPM#IndiaMeansBusiness

PM Modi said India's engagement with the outside world in the recent years has become "truly and effectively multi-dimensional covering the political, economic, people to people, security and other spheres". (Read full story)